27/07/2015 MARKET UPDATE AND VIEWS FOR TIMES AHEAD..

STAR - School of Technical Analysis and Research

NIFTY SPOT. Today on 27/07/2015
OPEN HIGH LOW CLOSE
8492.10 8492.20 8351.55 8361.00
It opened Gap-Down below Friday's Low and maintained gap throughout the day, with newer Lows till EOD. One may carry SHORT with SL of 8514.

M 8642 8136 8390 RST X
W 8540 8340 8428 X X
D 8575 8468 8495 X SS

H 8415 8387 8396 X SS
Short term time-frames like Hourly and Daily are clear SHORT.
Weekly, weak, with gap-down, awaits last support 8340, to be broken. Monthly shows Resistance at higher levels.
Resistances now at (8387-396) - (8415-428) - 8495.
Support at 8340, which is also 5-sma. Below may expect further downfall.
Target for Gap-Down is at 8250.

BANK NIFTY SPOT, Today on 27/07/2015
OPEN HIGH LOW CLOSE
18566.55 18566.55 18187.45 18213.05
Today, it was Gap-down open, below Friday's Low and remained weak throughout the day. Stay Short with SL 18636.

M 19125 17625 18377 BPL X
W 18819 18278 18513 X SS
D 18860 18538 18617 X SS

H 18342 18263 18301 X S
Almost all time-frames suggest more downside, with occasional bounces, for "Sell on Rise" situation.
Resistances all the way at (18263-78) - 301- 342 - 377 - 513.
No immediate support, as target of gap-down is 17780.